This content is from: Innovation

Centerbridge To Sell GTCS For $1B

Mortgage servicer and investor, Walter Investment Management, will acquire GTCS Holdings from Centerbridge Capital Partners.

Mortgage servicer and investor, Walter Investment Management, will acquire GTCS Holdings fromCenterbridge Capital Partners, Bloomberg reports. GTCS is valued at $1.065 billion, including debt.

Walter will issue 1.8 million shares to the seller and $765 million in new debt to acquire GTCS’ equity. Walter appointed Credit Suisse for advice, Morgan Stanley acted as advisor to GTCS, while Bank of America Merrill Lynch advised Centerbridge.

Click here for the story from Bloomberg.

Click here for the additional coverage from The New York Times.

Related Content